What Is the 2015 Economic Outlook?

What’s ahead for the markets and the economy in 2015? Raymond James Managing Director Jeff Saut joins MoneyBeat with his predictions. Photo: Getty.

This transcript has been automatically generated and may not be 100% accurate.

... well this morning's jobs report is the last one we're going to get twenty fourteen ... in either twenty fifty is right around the corner what will the new year brings Gene Raymond James's jumps out ... with us this morning for his outlook on the new year ... just to see how arena ... been traveling the past six weeks meant to enhance weeks in Europe's in portfolio managers and ... this week has been in New York scene portfolio managers stuff like that to my friend or a ... ah let's talk about next year I'm very inching your outlook piece ... you you you basically pay the Essen P rising about ten percent next year and twelve percent over the country to hire the most of the other outlooks I've seen what he knew when EU me can of next year I think the drop in gasoline prices is a very positive for especially the low end of the wage ... earners ... I think the GDP number is going to pick up he just had the employment report that today I was that a friend to fermentation last night about the van Art Cashin smart cache of the day and a ... job or sway this was their use to be the e-commerce was you had among the thirty share very smart guy call yet and he he yesterday said he thought was gonna be three hundred and twenty thousand so while ... I the whisper number was out and that's why the market is really no ... warning here this morning people are traders are selling them this year ah but I think the economy strengthens we get into into twenty fifteen ... I think of any get a pickup in the cap capital expenditure cycle that was a recent survey done if of eight hundred small businesses and ... the braised or spend intentions to the next twelve months as the that's the key one that key one is that really is the thing ... that sparked the whole business cycle and that thing we've really ... been weeding to see ... do you think that businesses finally feel comfortable enough to put money back into the business I e either seen in a way to be when we haven't seen in the way our institutional coffers to was a mindset change talking to CEOs and what their boards are telling them his book torn up a new seven figures to take free cash flow on buybacks stock brightwork a new seven figures to invest in the business and that's the mindset change that I haven't seen him for five years ... so yes I think the cap ex cycles is coming up I think he tell but some headwinds ... next year has come a couple of those things will we see and I think they're really more what will put a little color on the market more than the economy rate spot on that with your previous guest David the voices that I'd I'd do think the Janet Yellen we were with her not too long ago ... I do think a she thinks that the economy has reached escape velocity that you think she's going to raise rates but I do think it's gonna be in baby steps is like a bit sad and maybe we race in twenty five bits this month when a couple months to ... see what happens I think the majority of the gains in the Essen P are gonna come in the first half of the year ... because as rates start to rise there's gonna be people worried about a price earnings multiple compression ... so I think the first F looks pretty good and I think we grind higher in the second ... Q do you worry about what you see overseas in all Europe Jerry Sloan Japan bracelet China ... who really knows that tapping into ... the worry about what's going on the rest the world has in effect the US that I just spent two and a half weeks in Europe's over two hundred portfolio managers ... I didn't see any slowdown now but we're in London and Paris in Warsaw in Geneva ... we go well in the hinterlands ... um ... I couldn't find one portfolio manager that one to talk about European stocks they want to talk about us and they want to talk about emerging markets yet when we choosing the good people ... in you seen this I think ... you see a lot of its eighteen in the coming into U S stocks as opposed to some the other asset classes amid the region's ... deep into continues I do because it did its peer resistant we have a rising stock market in any doubt a rising US dollar ... to you get the double kick for your real money ... it's irresistible to foreign investors and they are weighty we most of underweighted in U S equities are some very clever accounts ... in Edinburgh that having come McNealy U S centric ... but most of the camps in Europe far away and are invested in US